Primecap Management Co. CA decreased its stake in Mastercard Inc (NYSE:MA) by 41.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,524 shares of the credit services provider’s stock after selling 123,300 shares during the period. Primecap Management Co. CA’s holdings in Mastercard were worth $39,296,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Baker Ellis Asset Management LLC bought a new stake in shares of Mastercard in the third quarter valued at approximately $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Mastercard in the second quarter valued at approximately $109,000. Fort L.P. bought a new stake in shares of Mastercard in the second quarter valued at approximately $120,000. Point72 Hong Kong Ltd bought a new stake in shares of Mastercard in the second quarter valued at approximately $131,000. Finally, Bogart Wealth LLC raised its position in shares of Mastercard by 434.7% in the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock valued at $148,000 after purchasing an additional 539 shares during the period. 74.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MA opened at $196.50 on Friday. The company has a market cap of $209.65 billion, a P/E ratio of 33.39, a PEG ratio of 1.74 and a beta of 1.21. Mastercard Inc has a 12 month low of $149.17 and a 12 month high of $225.35. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.55 and a quick ratio of 1.55.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 30th. The credit services provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Mastercard had a net margin of 35.88% and a return on equity of 114.58%. Mastercard’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. As a group, equities research analysts anticipate that Mastercard Inc will post 6.43 earnings per share for the current year.
Mastercard declared that its board has approved a share buyback program on Tuesday, December 4th that authorizes the company to repurchase $6.50 million in shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Wednesday, January 9th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, January 8th. This represents a $1.32 annualized dividend and a yield of 0.67%. This is a boost from Mastercard’s previous quarterly dividend of $0.25. Mastercard’s payout ratio is currently 21.83%.
In other news, Director Richard K. Davis acquired 2,475 shares of Mastercard stock in a transaction that occurred on Friday, November 2nd. The stock was bought at an average price of $196.37 per share, with a total value of $486,015.75. Following the completion of the purchase, the director now owns 3,468 shares in the company, valued at $681,011.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by insiders.
Several analysts have recently issued reports on MA shares. Credit Suisse Group boosted their price target on shares of Mastercard from $210.00 to $224.00 and gave the company an “outperform” rating in a research report on Monday, October 8th. BMO Capital Markets boosted their price target on shares of Mastercard from $238.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, November 1st. Loop Capital set a $232.00 price target on shares of Mastercard and gave the company a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research lowered shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price target on shares of Mastercard from $223.00 to $232.00 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $221.28.
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Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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